Construction output in South Korea decreased 5.8 percent from a year earlier in May 2020 following an upwardly revised 3.2 percent contraction in the previous month (vs preliminary 2.7 percent), as building construction dropped 8.7 percent after declining 7.4 percent in April. In contrast, civil engineering grew only 3.1 percent, slowing from an 11.7 percent expansion in the prior month. On a monthly basis, construction output declined 4.3 percent, following a 3.9 percent drop in March.
Construction Output in South Korea averaged 1.58 percent from 1998 until 2020, reaching an all time high of 26.40 percent in November of 2016 and a record low of -30.50 percent in August of 1998. This page provides - South Korea Construction Output- actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Construction Output - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Statistics Korea
Construction Output in South Korea is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in South Korea to stand at 1.90 in 12 months time. In the long-term, the South Korea Construction Output is projected to trend around 3.20 percent in 2021, according to our econometric models.